I guess the realization that crypto could have been the savior that we all rely on with this horrible economic system that was put in place way before we were born and didn't have say in it but failed to do any of that caused bitcoin to not become a global adopted spending currency.
I am not saying banks did it but banks did profit from it amazingly, we created bitcoin because we wanted crypto currencies to beat the system banks put in place but instead of beating it it became a part of it and now we are yelling the rules are not fair and banks have advantage.
Well, if you think bitcoin could have made you rich and if enough people believe that then yeah banks will use that a lot more and everyone will try to take advantage over you like exchanges and scams and what not. If you use it the way it was intended like a currency instead of like an investment then all of the problems listed would go away in a day.
Topic: Facts about this "industry" (Read 788 times)
@OP, you have only stated the negative sides of the industry, which i will not debunk, because you are right, but it would have been good if you had balanced things up by also stating the good side of it.
I have the assurance that cryptocurrency is the future and that it will be of great benefit to the entire humanity.
I have the assurance that cryptocurrency is the future and that it will be of great benefit to the entire humanity.
We can't deny the fact that OP's statements are the disadvantages of cryptocurrencies. It's a fact, right. Exchanges is hardly trusted nowadays. They are hackable. Since we already know this facts, the first thing we can do about it is to accept the reality. Since we are part of this 'imperfect industry OP is talking about, let us just be careful with our actions to prevent scammers and hackers.
I still believe bitcoin will gonna contribute big in our future, those negative sides will be known as a weakness of it but that doesn't mean it will be a hindrance for the success of cryptocurrency. Mankind is accepting this kind of technology so those who complained are still here supporting btc despite of all the negativities.
Crypto is going in bad path.
Crypto should have made our life easier but it has turned into a gambling game where one person benefits from others investment.
It's becoming more and more like a slow ponzi or networking game. You bring in new investors and get away with nice profits.
Instead on complaining on what you know y have no control over, why not explore your own opportunity too and see how you can benefit from it. We have so many slums around the world filled with bad people, but inside those slums, we have seen doctors arise, inside those slums, we have seen lawyers, great business men arise and many more. Crypto should have made our life easier but it has turned into a gambling game where one person benefits from others investment.
It's becoming more and more like a slow ponzi or networking game. You bring in new investors and get away with nice profits.
In this same crypto currency industry that is filled with bad people has you say, you can still make something meaningful out of it if you stop focusing on the negative side of it and see what crypto has done positively to people out there.
judging from this post, the conclusion is one - now there is a continuous lawlessness!
That is what you can call an absolute decentralization, I think what matters the most is how people will going to treat the cryptos capability to allow customers and investors to freely trade, or join a particular industry that they wanted to, and there's actually no reason for us to be afraid about it.
I am agree that many project dont have real product or just want to grab cash from early investor. I think if we want to make investment, better choose coin or token from reputable exchangers because they wont put their reputation with random project.
Investing in altcoin with low market cap and thinking with high risks but comes with huge profits. So that's up to the investor who wants to make a lot of money with a small amount or a little profit but definitely reduces the risk
@OP, you have only stated the negative sides of the industry, which i will not debunk, because you are right, but it would have been good if you had balanced things up by also stating the good side of it.
I have the assurance that cryptocurrency is the future and that it will be of great benefit to the entire humanity.
I have the assurance that cryptocurrency is the future and that it will be of great benefit to the entire humanity.
We can't deny the fact that OP's statements are the disadvantages of cryptocurrencies. It's a fact, right. Exchanges is hardly trusted nowadays. They are hackable. Since we already know this facts, the first thing we can do about it is to accept the reality. Since we are part of this 'imperfect industry OP is talking about, let us just be careful with our actions to prevent scammers and hackers.
I still believe bitcoin will gonna contribute big in our future, those negative sides will be known as a weakness of it but that doesn't mean it will be a hindrance for the success of cryptocurrency. Mankind is accepting this kind of technology so those who complained are still here supporting btc despite of all the negativities.
@OP, you have only stated the negative sides of the industry, which i will not debunk, because you are right, but it would have been good if you had balanced things up by also stating the good side of it.
I have the assurance that cryptocurrency is the future and that it will be of great benefit to the entire humanity.
I have the assurance that cryptocurrency is the future and that it will be of great benefit to the entire humanity.
All the above listed points are applicable to this industry ! And on a real note many of these needs to be eradicated to make this space a better one ! Else we will just be revolving around same circles.
The fact is that the market and companies in general will not give any guarantee, whether there is also a complete analysis of a project. In the case of exchanges, investors and traders get some degree of security if they try to associate themselves with new coins, such as IEO.
Yes, companies and exchanges clearly do not provide any guarantee for everyone, because that is sometimes we need analysis so we can see a good opportunity both in exchange and in a company.
The fact is that the market and companies in general will not give any guarantee, whether there is also a complete analysis of a project. In the case of exchanges, investors and traders get some degree of security if they try to associate themselves with new coins, such as IEO.
I think you are almost 100% right, but some exchanges will do almost all they can to protect user funds, but hackers and scammers affect the market because they stole coins and most of them sell once they get coins.
In any industry there was an ups and downs and cryptocurrency is not exempted so thats why we better accept the fact. Althought i agree with some of your facts But honestly we cannot do anything about it so we better move forward and ride with flaws or we just quit and leave the space for our own convenience thats my opinion about the facts you wrote!
No doubt you're absolutely right. Blockchain and everything connected with it is the future, many new features and a step towards progress. But human greed and the desire for instant benefit come to the fore...Unfortunately, this is human nature...cheat and spoil everything...
Well, I understand this post says that why do we need cryptocurrency and blockchain, let's move on to the classical market standards.
And that in other financial areas have no problems? There is no fraud, there is no corruption. And other problems? I think nothing has changed, and this is just a living example of what is happening in the world today. And you should not look for a way out in cryptocurrency. This is such a complex tool as investing in other industries.
And that in other financial areas have no problems? There is no fraud, there is no corruption. And other problems? I think nothing has changed, and this is just a living example of what is happening in the world today. And you should not look for a way out in cryptocurrency. This is such a complex tool as investing in other industries.
- exchanges that don't give a fuck and are not even hiding blatant wash trading, tape painting and spoofing.
- pump and dump groups with thousands of members on telegram dedicated to inflate the value of the coins of their choice and then dump their bags on poor bag holders who fund their gains before they run the thing to the ground.
- hackers who hack websites, wallets, exchanges, smart contracts
- scammers of all kind
- exchanges that will randomly confiscate your money and then you wait for months for customer support response, criminals
- 99% of icos are blatant cash grabs with no useful product or working prototype whatsoever and they are going to fail.
- miners that waste incredible amount of energy to mine mostly worthless funbux, ruin gpu market and occasionally enjoy cheap, even subsidized electricity while providing pitiful amount of new jobs.
- Crypto investors (speculators) who heavily shill their coins and fight with each other like a bunch of retarded children over whose funbuck is the god and which is worthless trash.
- "captains of the industry" who think they're next Edisons or Nikola Tesla while in fact they're making overpriced pogo sticks at best.
Above mentioned all points i can see the human greed . Yes this greed never ends . So atleast now i took initiative to oppose ICO or IEO i am doing this in all possible way . Most of the IEO or ICO here to grab money and disappear. - pump and dump groups with thousands of members on telegram dedicated to inflate the value of the coins of their choice and then dump their bags on poor bag holders who fund their gains before they run the thing to the ground.
- hackers who hack websites, wallets, exchanges, smart contracts
- scammers of all kind
- exchanges that will randomly confiscate your money and then you wait for months for customer support response, criminals
- 99% of icos are blatant cash grabs with no useful product or working prototype whatsoever and they are going to fail.
- miners that waste incredible amount of energy to mine mostly worthless funbux, ruin gpu market and occasionally enjoy cheap, even subsidized electricity while providing pitiful amount of new jobs.
- Crypto investors (speculators) who heavily shill their coins and fight with each other like a bunch of retarded children over whose funbuck is the god and which is worthless trash.
- "captains of the industry" who think they're next Edisons or Nikola Tesla while in fact they're making overpriced pogo sticks at best.
I am agree that many project dont have real product or just want to grab cash from early investor. I think if we want to make investment, better choose coin or token from reputable exchangers because they wont put their reputation with random project.
- exchanges that don't give a fuck and are not even hiding blatant wash trading, tape painting and spoofing.
- pump and dump groups with thousands of members on telegram dedicated to inflate the value of the coins of their choice and then dump their bags on poor bag holders who fund their gains before they run the thing to the ground.
- hackers who hack websites, wallets, exchanges, smart contracts
- scammers of all kind
- exchanges that will randomly confiscate your money and then you wait for months for customer support response, criminals
- 99% of icos are blatant cash grabs with no useful product or working prototype whatsoever and they are going to fail.
- miners that waste incredible amount of energy to mine mostly worthless funbux, ruin gpu market and occasionally enjoy cheap, even subsidized electricity while providing pitiful amount of new jobs.
- Crypto investors (speculators) who heavily shill their coins and fight with each other like a bunch of retarded children over whose funbuck is the god and which is worthless trash.
- "captains of the industry" who think they're next Edisons or Nikola Tesla while in fact they're making overpriced pogo sticks at best.
- pump and dump groups with thousands of members on telegram dedicated to inflate the value of the coins of their choice and then dump their bags on poor bag holders who fund their gains before they run the thing to the ground.
- hackers who hack websites, wallets, exchanges, smart contracts
- scammers of all kind
- exchanges that will randomly confiscate your money and then you wait for months for customer support response, criminals
- 99% of icos are blatant cash grabs with no useful product or working prototype whatsoever and they are going to fail.
- miners that waste incredible amount of energy to mine mostly worthless funbux, ruin gpu market and occasionally enjoy cheap, even subsidized electricity while providing pitiful amount of new jobs.
- Crypto investors (speculators) who heavily shill their coins and fight with each other like a bunch of retarded children over whose funbuck is the god and which is worthless trash.
- "captains of the industry" who think they're next Edisons or Nikola Tesla while in fact they're making overpriced pogo sticks at best.
Hard, but it is, and do not forget that this is a crypto, a new decentralized world.
Hard to say it's really decentralized. When people speak about decentralization, they ussually omit the most important word regarding this notion: level of decentralization. Is bitcoin fully decentralized? Hardly! 80% of mining capacities are centralized in China. Just one country collected 4/5 of all ASICs. Once mining is banned in China, a huge collapse can happen with pending transactions hanging in the memory pool.
So, be very accurate and careful when you speak about (de)centralized systems.
Crypto is going in bad path.
Crypto should have made our life easier but it has turned into a gambling game where one person benefits from others investment.
It's becoming more and more like a slow ponzi or networking game. You bring in new investors and get away with nice profits.
Crypto should have made our life easier but it has turned into a gambling game where one person benefits from others investment.
It's becoming more and more like a slow ponzi or networking game. You bring in new investors and get away with nice profits.
It does made our life easier but crypto is not responsible for our wealth. Imagine sending remittances in just a click of a mouse even without bank account. We do not need to go out, fall in line just to pay for our bills since there is already a third party that accepts cryptocurrency and settle our bills for us. It do made our lives easier setting aside those fact you mention. Besides it is in our own discretion if we gamble or trade. Other just buy to use in the future so that they don't have to go out of their office when they wanted to pay or buy something. The unbanked people got a chance to participate in trades and other investments that was previously only available to those who have bank accounts. Any bankruptcy or losses is not done by the cryptocurrency but rather to the wrong decision we made.
All these are part of a decentralized system, all these are bound to happen until people become wiser and stay in a project they are very sure of. Instead of running after what is not and what could make them burn their bitcoin and be given shitcoins.
Lol, this is cryptocurrency and you can't stop all those things you have mentioned here, cause there is just now way to stop them. So the best you can do for yourself, same as others can as well do for themselves is to be aware of all these things that are happening in the crypto community and find ways for them to avoid things like this. They can be avoided. If you don't want to get caught up in a pump and dump, you an stop investing in small coins or try to dump them before you get dumped. As for ICO, how you can avoid them is by doing proper research before you settle for any of them. As for hackers, to avoid them you should stop storing all your coins on an exchange, and stop using desktop wallets (your computer can be hacked) or any wallet that can easily be hacked, you can use offline wallets.
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